What is JORC?

Q: What is JORC?

JORC is the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves — the professional standard that governs how mineral exploration results, mineral resources, ore reserves, and exploration targets are disclosed to the investment market in Australia and New Zealand.

Q: Who maintains the JORC Code?

The JORC Code is prepared by the Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy (AusIMM), the Australian Institute of Geoscientists (AIG), and the Minerals Council of Australia (MCA). The Financial Services Institute of Australasia endorses the Code.

Q: Does the JORC Code apply to ASX and NZX listed companies?

Yes. The Code has regulatory effect for listed companies through the ASX and NZX listing rules. Under those rules, a Public Report that includes a statement on Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves must be prepared in accordance with the Code.

Q: What does 'JORC compliant' mean?

The JORC Code's own guideline to Clause 6 states that the term 'JORC compliant' refers to the manner of reporting, not to the estimates themselves, and that using it to describe resources or estimates is potentially misleading. The Code governs how an estimate is communicated to the market; it does not regulate the methodology by which a Competent Person derives the underlying estimate.

JORC is the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves — the professional standard that governs how mineral exploration results, mineral resources, ore reserves, and exploration targets are disclosed to the investment market in Australia and New Zealand.

The Joint Ore Reserves Committee

The name JORC comes from the Joint Ore Reserves Committee, the body that prepares and maintains the Code. The Code is prepared by the Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy (AusIMM), the Australian Institute of Geoscientists (AIG), and the Minerals Council of Australia (MCA). The Financial Services Institute of Australasia endorses the Code.

The Code is binding on members of AusIMM and AIG through the rules of those organisations, which carry enforceable disciplinary processes including the power to suspend or expel a member. MCA and the Financial Services Institute of Australasia endorse but do not impose the Code on their own members.

Editions of the Code

JORC was established in 1971 and published several reports on Ore Reserve classification before releasing the first edition of the JORC Code in 1989. Revised editions followed in 1992, 1996, 1999, and 2004. The current edition is JORC 2012, which took effect on 20 December 2012 and became mandatory from 1 December 2013. JORC 2012 supersedes all previous editions.

Regulatory force: ASX and NZX listing rules

The Code has regulatory effect for listed companies. ASX has incorporated the Code into its listing rules since 1989; the New Zealand Stock Exchange (NZX) has done so since 1992. Under those listing rules, a Public Report that includes a statement on Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves must be prepared in accordance with the Code.

The listing rules also impose requirements on mineral reporting companies beyond the Code itself. Users should consult the relevant ASX Guidance Notes (including Guidance Notes 31 and 32) alongside the Code text.

The three principles

Clause 4 of the Code sets out three governing principles that apply to the operation and application of the Code and every Public Report.

Transparency: The reader of a Public Report must be provided with sufficient information, presented clearly and unambiguously, to understand the report and not be misled — either by what is included or by the omission of material information known to the Competent Person.
Materiality: A Public Report must contain all the relevant information that investors and their professional advisers would reasonably require, and reasonably expect to find, to make a reasoned and balanced judgement about the Exploration Results, Mineral Resources or Ore Reserves being reported. Where relevant information is not supplied, an explanation must be provided to justify its exclusion. For non-listed entities, the same test applies from the perspective of professional advisers rather than investors.
Competence: The Public Report must be based on work that is the responsibility of suitably qualified and experienced persons who are subject to an enforceable professional code of ethics. This person is the Competent Person.

What the Code governs — and what it does not

The JORC Code is a Code for Public Reporting. The guideline to Clause 6 states directly that the term “JORC compliant” refers to the manner of reporting, not to the estimates themselves, and that using it to describe resources or estimates is potentially misleading. The Code governs how an estimate is communicated to the market; it does not regulate the methodology by which a Competent Person derives the underlying estimate.

The Code sets out minimum standards. Companies are encouraged to provide information in their Public Reports that is as comprehensive as possible (Clause 6 guideline).

The Code applies to all solid minerals for which Public Reporting is required by the ASX and NZX — including diamonds, other gemstones, industrial minerals and coal (Clause 7).

What is a Public Report?

Clause 6 defines a Public Report as one prepared for the purpose of informing investors or potential investors and their advisers on Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves. The Code’s examples include annual and quarterly company reports, press releases, information memoranda, technical papers, website postings and public presentations — as well as ASX and NZX announcements.

CRIRSCO and the international context

The JORC Code has been the foundation of international efforts to standardise mineral reporting. Since 1994, the Committee for Mineral Reserves International Reporting Standards (CRIRSCO) has worked from the JORC definitions to build a set of standard international reporting definitions. At the time the 2012 edition was published, CRIRSCO’s National Reporting Organisations (NROs) covered Australasia, Canada, Chile, Europe, Russia, South Africa and the USA; membership has expanded since. The defined terms in JORC 2012 are aligned to the CRIRSCO Standard Definitions as revised in October 2012. Current NRO membership is listed at crirsco.com.

The JORC 2012 Table 1

The practical mechanism for meeting the Code’s requirements is the Table 1 checklist. Clause 5 requires that Table 1 criteria be addressed on an “if not, why not” basis at two levels. The Competent Person’s internal documentation must always address Table 1 on this basis. For significant projects reporting Exploration Results, Mineral Resources or Ore Reserves for the first time — or where those have materially changed — the Public Report itself must also include a Table 1 summary as an appendix. Where a criterion is not discussed, the Competent Person must explain why.

JORC 2026

A revised edition of the JORC Code is in preparation. This page describes the current JORC 2012 edition. TableOne Flow will add support for JORC 2026 when the revised Code is finalised, with each criterion anchored to its specific Code version.

This page is an educational summary of the JORC 2012 Code. It is not legal or professional advice. Refer to the full Code text at jorc.org/docs and seek professional guidance specific to your situation.

TableOne Flow is built around the JORC 2012 Table 1 structure. If you draft or sign Table 1s, register your interest and tell us about your setup.

JORC 2012 Table 1 → What is a Competent Person? → How does CP consent work? → How we think about JORC →